When I moved to Houston in 1990 a 550 round box of Federal bulk pack .22 was $8.88 at Walmart. Last year, before the ammo crunch, it was about $14-$15.
If you go to
www.measuringworth.com and click on Relative Values - US and put 1990 and $8.88, and ask for 2012 (latest year available) you get about $15-$16 depending on which of the measures of value used. Seems fishy but there it is.
Of course, there is no data for 2013 and no accounting for the ammo panic, but I think the conclusion is that today's prices aren't really out of line, they just seem like it because the currency is so degraded.